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Case Review: Banking
Summary of some of the decisions made by the Mediators on some of the complaints received by FMB.
This summary is for information only and should not be used for other purpose. [Previous]………[Next]
LOSS OF FUNDS OVER THE COUNTER (Reference no : 6-121)
Madam MP made the following cash withdrawals over the counter from the FB Bank's branches :
(i) On 03/06/04 withdrawal RM10,000/- at Medan Pasar Branch
(ii) On 04/06/04 withdrawal RM10,000/- at Medan Pasar Branch
(iii) On 11/06/04 withdrawal RM10,000/- at Tun Ali Branch
Upon receiving of the cash over the counter, Madam MP did not count the money received. She in fact deposited the monies into her Safety Deposit Box which she held at Bank KG. The withdrawn money were kept in 3 separate envelopes. On 13/10/04 she utilized one envelope of RM10,000/- to pay a Third party who did not complain of any shortage of fund.
On the 13/01/05 Madam MP wished to use the second envelope of cash. She discovered that there was a shortage of RM500/- in this envelope. She then counted the third envelope and there was a shortage of RM500/-. She reported the shortage to the FB Bank which rejected her claim.
At mediation, the bank produced the withdrawal slips of each lot wherein Madam MP had acknowledge receipt of RM10,000/- per transaction. It is duty of the customer to count the cash before leaving the counter to verify that the correct amount has been handed over. Madam MP's claim was rejected.
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